Macau casino services company Macau Legend Development reported revenue of nearly HK$1.84 billion ($234.5 million) in 2017, up 24.8% year-over-year.

However, the company's full-year net loss continued to expand in 2017. Macau Legends posted a net loss of HK$577.3 million for the 12 months ended Dec. 31, compared with a loss of HK$277.5 million a year earlier and HK$268.5 million in 2015.

"Losses for the year ended December 31, 2017, were primarily due to increased depreciation from Legendary Palace Hotel operations since early 2017, higher financial costs due to suspension of interest capitalization related to Legendary Palace Hotel during the year, increased property and equipment damage due to Typhoon Hato, and reduced potential revenue," Macau Legends said.

Legendary Palace (pictured), the Hong Kong-listed company's latest Macau development, opened to the public in February 2017. Operations at the scheme's casinos and hotels were shut down for nearly four weeks due to flooding related to Typhoon Hato, which hit Macau in August last year. It was the strongest storm ever recorded in Macau for 53 years.

Macau Legends is the promoter of Macau Fisherman's Wharf, a waterfront entertainment area near the Outer Harbor Ferry Terminal on the Macau Peninsula. It was opened to the public in 2006. In the early days, Fisherman's Wharf launched the Lax Hotel, which does not have a casino, and Babylon Casino, a nearby gaming venue without a hotel. Since then, the open-air site has undergone extensive remodeling, including a canopy for part of the main road.

Macau Legends opened in February 2015 and has so far completed two of the three new hotels planned for a site overhaul, including the casino-free Harborview Hotel and a casino hotel called Legend Palace.

Another new hotel for Macao Fisher's Wharf will also include a casino, according to a previous filing by Macao Legend. The property faced some public opposition after Macao Legend applied to raise the building's height by 50 percent to 90 meters (295 feet). In a recent announcement, Macao Legend confirmed that it was "looking to submit a revised plan to accelerate the development of the 60-meter-high Legend Hotel."

Macau Legend said in a filing that visitor numbers at Macau Fisherman's Pier have been increasing "over the past few months." The company said it plans to "continue to hold promotional activities focused on enhancing the customer experience at the newly refurbished boulevard.

Macau Legends noted that it plans to "start further upgrades in the food and beverage stores and entertainment sector to improve visits and branding." The completion of the footbridge, which connects to a nearby ferry terminal, will also "improve connectivity and improve visits," the company said.

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